The shares of Porsche Automobil Holding have been under pressure for months. Since the high of 58.86 euros on June 14, the shares have been in a downward trend and have reached their previous low of 41.65 euros. The day before, the shares ended trading with a bullish daily candle and could be facing a countermove.
The day before, the shares exited trading with a bullish daily candle with a long lower shadow and a small candle body. This Friday, the shares are continuing their upward momentum and are higher at 42.90 euros. If the recovery continues, a further run-up to the 10-EMA at 44.20 euros could follow. The 10-EMA is often seen as the first starting point of a recovery in the overarching downtrend. In this area, the shares could then already form a high and then turn downwards again in order to continue the overarching downward movement.
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Conclusion:
Traders could speculate on a further recovery in Porsche shares. A long position with an open end turbo warrant (VP3YQZ) from Bank Vontobel. The price target is in the area of 44.00 euros, the stop at 41.50 euros.
| Trading idea: Porsche Automobil Holding | |
|---|---|
| Underlying value | Porsche (ISIN: DE000PAH0038) |
| Product category | Open End Turbo Warrant |
| Issuer | Vontobel |
| ISIN/WKN leveraged product | DE000VP3YQZ2 / VP3YQZ |
| Duration | Open ending |
| Price knockout call (date) | €0.28/€0.29 (October 27, 2023, 10:20 a.m.) |
| Base price variable | €40.19 |
| Knock-out threshold | €40.19 |
| lever | 15.20 |
| Distance to knockout | 6.10% |
| Stop loss call | €0.14 |
| Target Call | €0.39 (+34.48%) |
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